
Global Markets Today LIVE: Global markets staged a powerful relief rally on Wednesday, April 8, after the United States and Iran agreed to a two-week ceasefire, easing fears of a deeper Middle East conflict and triggering a sharp reversal across equities, commodities and currencies.
Wall Street futures also reflected the upbeat mood, with S&P 500 futures rising 2.7% and Nasdaq 100 futures gaining 3.3% as of 6:52 a.m. London time. In Europe, Euro Stoxx 50 futures surged 5.4%, signalling a strong opening for regional markets.
The ceasefire, which is expected to pause American-Israeli military action, also includes Iran’s agreement to reopen the Strait of Hormuz, a crucial oil shipping route that handles a significant share of global crude flows. Pakistan, which helped broker the understanding, said the arrangement would also extend to Israel-Hezbollah tensions in Lebanon.
The biggest immediate reaction came from the oil market. West Texas Intermediate (WTI) crude plunged as much as 19%, marking its steepest fall in nearly six years, while Brent crude dropped 14% to $93.90 per barrel. The sharp decline in oil prices boosted hopes of easing inflationary pressure and improved the outlook for global growth.
That optimism quickly spilled over into equity markets. MSCI’s Asia Pacific equity index jumped 5.1%, its highest level in five weeks, as investors moved back into risk assets. In Asia, Japan’s Topix rose 3.4%, Australia’s S&P/ASX 200 gained 2.6%, Hong Kong’s Hang Seng climbed 3.1%, and China’s Shanghai Composite added 2.5%.
Other asset classes also reacted sharply. U.S. Treasuries rallied, as falling oil prices revived hopes that softer inflation could eventually give the Federal Reserve more room to cut rates. Meanwhile, the U.S. dollar index slipped 1%, giving back some of the safe-haven gains it had made during the conflict.
Precious metals moved higher as well. Gold climbed 2.7% to around $4,835 per ounce, while silver surged 5.9% to above $77 per ounce, as investors balanced improving risk appetite with lingering geopolitical uncertainty.
Indian markets join the global rebound
Indian equities also participated strongly in the global risk-on rally, with benchmark indices ending the day with nearly 4% gains.
The Sensex closed 2,946 points, or 3.95%, higher at 77,563, while the Nifty 50 settled 874 points, or 3.78%, up at 23,997. During the session, the Sensex had surged 3,019 points, or 4%, to an intraday high of 77,635.54, while the Nifty 50 climbed 901 points, or 3.9%, to hit 24,025.15.
Sentiment on Dalal Street was further supported by the sharp fall in crude oil prices, a weaker U.S. dollar, and the RBI Monetary Policy Committee’s decision to keep rates unchanged, in line with market expectations.
Amundi SA has been buying into the selloff in equity markets just as most investors were slashing their stock exposure on fears of an escalation in the Iran war.
“We were already positioned for a TACO,” said Amelie Derambure, a senior multi-asset portfolio manager at Amundi, using a widely adopted term for moments when Trump opts against following through with maximalist negotiating stances, according to a Bloomberg report.
US stock futures pointing to a positive start reflect improving near-term sentiment, but it would be premature to conclude that the uptrend is firmly in place.
Markets may have moved past the phase of indiscriminate selling, but a clear, durable bull cycle typically requires stronger visibility on rate cuts and earnings growth. Valuations, especially in segments of the US market, are still not cheap relative to historical averages. Corporate earnings resilience will be the key variable from here.
— Harshal Dasani, INVasset PMS
US President Donald Trump on Wednesday said any country supplying Iran with military weapons will face immediate 50% tariffs with no exemptions, announcing the duty in a social media post one day after agreeing to a two-week ceasefire with Tehran.
Wall Street was poised for a gap-up start on Wednesday, April 8, as US stock futures traded 2.5-3.5% higher around 5.30 am GMT. The tech-heavy Nasdaq's E-mini futures were up 3.5%, S&P 500 futures rose 2.7%, and Dow Jones E-minis were up 2.5%.
The US stock market had ended mixed on Tuesday with signs of progress in the diplomatic efforts for peaceful settlement of the ongoing war in the Middle East. Read more
Delta Air Lines Inc. expects to incur more than $2 billion in higher fuel costs through June because of the Iran war, prompting the carrier to tread carefully and stick to its previous full-year profit forecast.
“We’re not updating it in light of the uncertainty, so I think it’d be imprudent to make any estimate at this point,” Delta Chief Executive Officer Ed Bastian said.
Fuel prices have climbed sharply as the conflict disrupts global energy markets, raising costs for airlines at a time when demand has otherwise held up. The increase is forcing carriers to weigh how much of the higher expense they can pass on through fares without dampening bookings.
Airline shares globally surged Wednesday after US President Donald Trump agreed to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz, a vital route for exports of oil and other commodities. (Bloomberg)
Gold rose to a near three-week high on Wednesday, as oil prices and the dollar fell sharply after the U.S. and Iran came to an agreement to cease hostilities for two weeks as talks begin on a permanent end to the war.
Spot gold was up 2% at $4,795.99 per ounce, as of 0920 GMT. Earlier in the session, bullion rose more than 3% to its highest level since March 19.
U.S. gold futures for June delivery gained 3% to $4,824.70.
The United States and Iran have agreed to a two-week ceasefire, subject to Iran's agreement to pause its blockade of oil and gas supplies through the Strait of Hormuz, Trump said. (Reuters)
The recovery in emerging-market assets gathered pace on Wednesday, with stocks heading for their strongest single-day gain since 2022 and currencies wiping out their year-to-date losses, after the U.S.-Iran ceasefire sent oil prices sharply lower.
MSCI Inc.’s benchmark index for developing-market equities climbed as much as 5%, led by gains in oil-importing economies such as South Korea and Taiwan. Among the standout performers, Dubai — one of the key targets during the recent conflict — posted its biggest jump in a decade, while Pakistan’s stock market also ranked among the top gainers, helped by the country’s role as a key mediator in securing the two-week pause in hostilities.
The near-term outlook remains positive, supported by stable macros, improving sentiment, and liquidity conditions. However, the sustainability of the rally will depend on progress in geopolitical negotiations, easing of supply disruptions, and normalization of energy shipments. Movements in crude oil prices, the rupee, and FII flows will remain key determinants of near-term market direction, said Ajay Menon, MD & CEO – Wealth Management (retail broking and distribution), Motilal Oswal Financial Services.
Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said:
“Gold traded sharply higher with gains of around ₹2900 at ₹153000, tracking strength in COMEX gold near $4800, although rupee appreciation capped further upside in MCX. The rally is largely driven by relief sentiment after the US–Iran ceasefire, which led to a sharp 15% correction in crude prices, supporting broader risk assets.
However, this move is more of a relief rally and short covering, as uncertainty still persists regarding the durability of the ceasefire and reopening of key supply routes.
Technically, resistance is seen near ₹155500, while support is placed around ₹149000. Gold is expected to remain volatile, with direction dependent on further geopolitical clarity and macro cues."
Hareesh V, Head of Commodity Research, Geojit Investments Limited:
"Gold and silver prices rallied sharply today, advancing nearly 3% and 6% respectively, following the ceasefire discussions between the US and Iran.
The easing of geopolitical tensions triggered renewed safe‑haven demand, with investors flocking to bullion as a hedge. Supportive macro factors, including a softer US dollar and the Dollar Index slipping below 99, further boosted momentum. This surge underscores how gold and silver remain resilient assets, with the potential to attract stronger buying interest from investors."
The Indian rupee appreciated 0.5% to close at 92.58 against the U.S. dollar on Wednesday, strengthening from its previous close of 93.0075.
Vinod Nair, Head of Research, Geojit Investments, said:
"The interim ceasefire is seen as a step toward broader regional stability. India benefits immediately from the reopening of the Hormuz Strait, which has pushed oil prices below $100 and reduced downside risks to FY27 EPS growth.
The sharp improvement in sentiment has driven a notable decline in the 10‑year bond yield and strengthened the rupee, while the RBI’s status quo stance has further supported financials. Although the Q4 results outlook remains muted, investors are focusing on reasonable valuations and a stable medium‑term earnings trajectory, suggesting that the rally still has room to continue in the near term."
Broader markets also soared, with the Nifty Midcap 100 up 4% and the Nifty Smallcap 100 riding 4.4%
Indian equity benchmarks staged a sharp relief rally on Wednesday, April 8, with the Sensex and Nifty 50 ending almost 4% higher as easing geopolitical tensions lifted investor sentiment.
Sensex ended 2946 points or 3.95% higher at 77,563 while the broader Nifty 50 settled 874 points or 3.78% up at 23,997.
The rally came after the United States and Iran agreed to a two-week ceasefire, triggering a broad rebound across global markets. Sentiment on Dalal Street was further boosted by a steep decline in crude oil prices, a weaker U.S. dollar, and the RBI Monetary Policy Committee’s decision to keep interest rates unchanged, in line with market expectations.
Shares of Tata Motors (Commercial Vehicles) and Tata Motors Passenger Vehicles (TMPV) jumped up to 11% on Wednesday after U.S. President Donald Trump agreed to a two-week ceasefire with Iran, subject to the immediate and safe reopening of the Strait of Hormuz — a key global shipping route that carries nearly 20% of the world’s oil flows.
In Wednesday’s trade, Tata Motors (Commercial Vehicles) climbed 11% to hit an intraday high of ₹439 on the NSE, while Tata Motors Passenger Vehicles rose 7.5% to ₹332. Ashok Leyland, another major player in the commercial vehicle space, also rallied sharply, gaining 12% to ₹171 on Dalal Street.
ICICI Prudential Asset Management Company Ltd informed exchanges that its board of directors will meet on Monday, 13 April 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2026.
The company also indicated that the board will evaluate and potentially recommend a final dividend for the financial year on the same day.
“….the meeting of the Board of Directors of the Company scheduled on Monday, April 13, 2026, will inter alia consider and recommend declaration of final dividend, if any, to the shareholders for the financial year ending on March 31, 2026,” said the firm in an exchange filing.
Shares of Angel One, a leading retail full-service brokerage firm in India, surged 8% in Wednesday's intraday session on April 8, to reach a two-month high of ₹265.85, as investors reacted positively to the company’s March and Q4FY26 business updates.
According to the company’s filing with the BSE, Angel One added 0.46 million clients in March, marking a 1.3% month-on-month (MoM) increase and a 20.5% year-on-year (YoY) rise. The firm’s total client base stood at 37.39 million at the end of the month.
However, gross client acquisition in March declined by 10.7% on a MoM basis but showed a 7.5% increase compared to the same period last year.
The dollar fell against all its major peers after the US and Iran agreed to a two-week ceasefire, sapping demand for the currency as a haven.
Bloomberg’s gauge of the greenback slid as much as 0.9% to a four-week low as the agreement drove down Treasury yields, further trimming demand for the currency. The dollar weakened the most against its risk-sensitive counterparts such as the South African rand and South Korean won.
Iran said the ceasefire agreement meant it would guarantee safe passage for vessels through the Strait of Hormuz for two weeks, helping ensure a greater supply of oil to global markets. (Bloomberg)
Today's gains added more than ₹12 trillion to the total market capitalisation of all companies listed on BSE. As per exchange data, the all-India market capitalisation stood at ₹441.18 trillion, up from the previous day's total m-cap of ₹428.77 trillion.
India VIX slipped 19% to 20 mark, indicating some relief in the near-term volatility.
Vedanta share price rallied 3% on Wednesday, extending gains from for the sixth straight session, ahead of the National Company Law Appellate Tribunal (NCLAT) hearing on the Jaiprakash Associates Limited (JAL) insolvency case later this week. Vedanta shares gained as much as 3.99% to ₹735 apiece on the BSE.
The Delhi bench of the NCLAT will hear Vedanta’s appeal challenging the approval of the resolution plan for JAL on April 10.
The Supreme Court on Monday had declined to stay the implementation of the Adani group’s ₹14,535-crore bid to acquire the debt-ridden JAL, but provided a safeguard by restraining the firm’s monitoring committee from taking any “major policy decisions” without prior nod of the NCLAT.
The world's largest cryptocurrency, Bitcoin has slipped to $67,798.20, down 2.26% over the past 24 hours, amid broader volatility in the markets following a series of attacks by the United States on Iran's infrastructure. The overall crypto market cap is at $2.33 trillion; and trading volume at $84.39 billion, as per CoinMarketCap data.
Bitcoin market capitalisation is also down 2.2% to $1.35 trillion, with trading volume up 5.49% to $33.91 billion over the past 24 hours, according to data on CoinMarketCap. Notably, it erased gains from the previous day where the token topped $70,000 level for the first time since March.
Oil prices plunged sharply while global equities rallied after the United States and Iran agreed to a two-week ceasefire, offering markets a breather from the volatility triggered by the Middle East conflict.
West Texas Intermediate (WTI) crude tumbled as much as 19%, marking its steepest fall in nearly six years, after U.S. President Donald Trump agreed to pause bombing of Iran. The move is expected to help restore oil shipments through the Strait of Hormuz, with Iran saying that safe passage through the key waterway would be possible during the ceasefire period. Meanwhile, global benchmark Brent crude fell 14% to $93.90 per barrel.
The easing in geopolitical tensions triggered a broad-based rally in equities. MSCI’s Asia Pacific equity index jumped 5.1% to its highest level in five weeks, as investors bet that lower crude prices could help cool inflation and support global growth.
Markets across regions joined the rebound. S&P 500 futures rose 2.7% as of 6:52 a.m. London time, while Nasdaq 100 futures gained 3.3%. In Asia, Japan’s Topix advanced 3.4%, Australia’s S&P/ASX 200 climbed 2.6%, Hong Kong’s Hang Seng rose 3.1%, and China’s Shanghai Composite added 2.5%. In Europe, Euro Stoxx 50 futures surged 5.4%, reflecting a strong global risk-on mood.
Bond markets also reacted positively. U.S. Treasuries rallied as softer oil prices revived hopes that easing inflation pressures could give the Federal Reserve room to cut interest rates. The U.S. dollar index fell 1%, reversing some of its safe-haven gains made during the conflict.
Precious metals also moved higher. Gold climbed 2.7% to around $4,835 per ounce, supported by expectations of a lower interest-rate environment, which tends to favour non-yielding assets. Silver outperformed, surging 5.9% to above $77 per ounce.
Adani group stocks witnessed a sharp rally of up to 13% in Wednesday's trading session after a US court accepted the plea filed by the counsels of Guatam and Sagar Adani for a pre-motion conference to dismiss a securities fraud case brought against them over 15 months ago by the Securities and Exchange Commission (SEC).
All Adani group stocks traded higher following this development and amid a sharp rebound in the Indian stock market on the US-Iran ceasefire news.
Adani Green and Adani Total Gas led, with a 13% rise each. Meanwhile, the flagship Adani Enterprises shares gained 11%. Both Ambuja Cement and Adani Energy hit the 10% upper circuits, while Adani Ports, Adani Power, and ACC gained between 6-8%. Media stock NDTV gained 12% today.
Viram Shah, Co-Founder and CEO, Vested Finance noted that for investors, today's market rally reinforces how quickly geopolitics can override fundamentals, with oil moving from sub $80 levels to well above $120 and then correcting sharply within weeks as the Strait of Hormuz disruption unfolded and partially reversed.
“The current market move is less about a structural improvement and more about unwinding extreme risk positioning, and the key from here will be whether the ceasefire evolves into a more durable agreement. Until then, markets are likely to remain event-driven, with the potential for equally sharp repricing across oil, inflation expectations, and risk assets if tensions escalate again,” he added.
Garima Kapoor Deputy Head of Research and Economist at Elara Capital said, “Acknowledging the risks to growth and inflation owing to disruption in energy and other supply chains, MPC decided to hold policy rates while awaiting further clarity on the impact of West Asian crisis. We do not see MPC hiking policy rates until CPI inflation durably surpasses 6% and inflation expectations get unhinged. We believe the 6.9% growth estimate put out by RBI for FY27 may need a reassessment as full pre-war energy export volumes might take 3–6 months due to backlog, diverted tankers, and partial infrastructure damage.”
In the realty sector, Aditya Birla Realty surged 9% while Lodha jumped 8%. Prestige, Phoenix, Sobha, Godrej Properties, DLF, Oberoi Realty, Anant Raj and Brigade Enterprises also added 5-8% today.
"For the real estate sector, this continuity in interest rates plays a crucial role in sustaining momentum. Stable borrowing costs help preserve affordability for homebuyers while also enabling developers to plan with greater confidence. In an environment where sentiment can be easily influenced by macroeconomic signals, the absence of rate volatility acts as a reassuring factor for the market. With financing costs remaining steady, prospective buyers are better positioned to evaluate and commit to long-term investments such as homeownership.
Overall, the RBI’s decision supports a balanced environment for the real estate sector, helping maintain demand traction and providing the confidence needed for continued market activity in the near term," said Shishir Baijal, International Partner, Chairman & Managing Director, Knight Frank India.
While the auto sector rose 7%, its constituents also rallied. Ashok Leyland soared almost 13%, followed by Motherson Sumi and Tata Motors PV, up 9% each. Meanwhile, Uno Minda, M&M, Bosch, Maruti, TVS Motor, Eicher Motors, Bharat Forge, TI India, Exide Industries, and Hero Moto rose between 5-7.5% each.
VK Vijayakumar, Chief Investment Strategist, Geojit Investments said: "Nifty will cruise towards 24000 and further movements will depend on the evolving outlook. In brief, it is risk on again.
Beaten down financials have the potential to stage a dramatic recovery. Crude-related stocks like refineries, aviation, capital goods companies with exposure to the Gulf region, paints and adhesives will be on strong wicket."
Nifty Financial Services index added 5.6% today. Shriram Finance was the top gainer in the index, up 11% followed by Chola Finance, rising 9%. Meanwhile, Max Finance, Bajaj Finance, Bajaj Finserv, Muthoot Finance advanced over 7% each. SBI Cards, Jio Financial, SBI Life, and REC were also up between 3.5-5% each.
Shares of Larsen and Toubro (L&T) advanced over 8% on BSE to ₹4,024.9 per share following the positive developments around the Middle East war. US President Donald Trump has said he has suspended Iran attacks for two weeks, pausing a five-week conflict that closed a crucial waterway for global energy supply and sent equity prices reeling.
Last month, L&T had said that it derives more than 35% of its revenue from the Middle East region. Following the US and Israel’s strikes on Iran and subsequent retaliatory actions, it had flagged logistics and supply chain disruptions as key challenges, warning of potential revenue risks if the situation persists.
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Wednesday, April 8, said that headline inflation remained below its target, with CPI inflation coming in at 2.7% in January and 3.2% in February. However, the central bank also cautioned that upside risks to inflation have increased, largely due to the ongoing West Asian crisis.
For FY27, the RBI projected CPI inflation at 4.6%. On a quarterly basis, it expects inflation at 4% in Q1, 4.4% in Q2, 5.2% in Q3, and 4.7% in Q4.
All Nifty Bank constituents are in the green, led by Union Bank, AU Small Finance Bank, IndusInd Bank, and more.
Following the latest monetary policy, the Reserve Bank of India kept the repo rate unchanged at 5.25%, while maintaining its policy stance at ‘neutral’. The Monetary Policy Committee (MPC) unanimously voted to keep rates unchanged, signalling a continued wait-and-watch approach.
Among other key rates, the Cash Reserve Ratio (CRR) stands at 3%, the Standing Deposit Facility (SDF) rate is at 5.00%, while both the Marginal Standing Facility (MSF) rate and the Bank Rate remain at 5.50%.
The Reserve Bank of India (RBI) has projected India’s GDP growth at 6.9% for FY27, indicating a steady economic expansion through the year. On a quarterly basis, the central bank expects growth to come in at 6.8% in Q1FY27, followed by 6.7% in Q2FY27. Growth is then seen improving to 7% in Q3FY27 and further accelerating to 7.2% in Q4FY27, suggesting stronger momentum in the second half of the fiscal year.
Sensex, Nifty remained around 3.5% higher at around 10:10 am after the RBI Governor Sanjay Malhotra announced that the Monetary Policy Committee has decided to keep repo rate unchanged at 5.25%, as widely expected by the markets.
Real GDP growth for FY26 is projected at 7.6%, said RBI Governor.
The RBI Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.25% and maintained the policy stance as ‘Neutral’.
Shares of InterGlobe Aviation, which operates budget carrier IndiGo, rose 11% in the morning trade on Wednesday, April 8, boosted by a sharp decline in crude oil prices today following the announcement of a two-week ceasefire in the US-Iran war.
Shares of oil marketing companies (OMCs) surged on easing crude prices, with Indian Oil Corporation Ltd (IOC) rising 8.2%, Hindustan Petroleum Corporation Ltd (HPCL) gaining 9%, and Bharat Petroleum Corporation Ltd (BPCL) advancing 8.8%. The rally comes after Brent crude prices plunged over 13% following reports of a two-week ceasefire between the US and Iran.
Declining crude prices provide significant advantages for downstream refiners, as they greatly lower raw material expenses and enhance gross refining margins (GRMs). The steep decline in oil prices has also alleviated worries about inflation and marketing losses, lifting sentiment for OMC stocks.
Crude oil prices on Multi Commodity Exchange (MCX) crashed as much as 9% to ₹9,709 per barrel on Wednesday, tracking a decline in global oil prices, after the US and Iran reached a two-week ceasefire deal, which is expected to pause the American-Israeli military offensive in return for Iran reopening the Strait of Hormuz.
On the international front, Brent crude tumbled by as much as 16% before stabilising near $95 per barrel, while West Texas Intermediate recorded its steepest fall in nearly six years, trading around $96.
The rupee rose by 36 paise to open at 92.64 per dollar on Wednesday, April 8, in anticipation of the central bank's policy announcement, supported by falling oil prices and a surge in Asian currencies following a two-week ceasefire in the Middle East.
Brent crude futures for June dropped nearly 14% to $94.10 per barrel, US stocks jumped over 2%, while South Korean and Japanese markets increased by 6% and 5%, respectively.
A two-week ceasefire with Iran, brokered by US President Donald Trump on Tuesday, April 7, strengthened risk assets, boosted Asian currencies, and contributed to the decline in oil prices.
Nifty Bank and Nifty Financial Services surged around 4.5%, while Nifty Auto and Nifty Realty rallied over 5% each ahead of RBI Policy meet later today.
On Sensex, IndiGo was the top gainer, surging 10%, followed by L&T and Bajaj Finance, while Tech Mahindra was the only stock in the red
Broader markets were also in line with benchmark indices, with the Nifty Midcap 100 rallying 3.4% and the Nifty Small-cap 100 up 3.2%.
Sensex opened 2674.05 points or 3.58% higher at 77,290.63 while broader Nifty 50 started the day 731.50 points or 3.2% higher at 23,855.15.
Silver and Gold prices surged on Wednesday, April 8, riding a broad rally in precious metals after the United States and Iran agreed to a two-week ceasefire to push forward negotiations aimed at ending a conflict that had rattled global markets. Meanwhile, the white metal was also reacting to a sharp fall in the U.S. dollar, which made dollar-priced metals more attractive.
Silver rate on MCX jumps 6% or over ₹13,000 to ₹2,44,770 per kg while MCX Gold price adds 2.4% or over ₹3600 to ₹1,53,944 per 10 grams.
Meanwhile, in the international markets, Spot silver rose 4.9% to $76.48 per ounce, making it one of the strongest movers in the metals pack. Gold also moved sharply higher. Spot gold climbed 2.3% to $4,812.49 per ounce by 0215 GMT, after rising more than 3% earlier in the session to hit its highest level since March 19. Meanwhile, U.S. gold futures for June delivery advanced 3.4% to $4,841.60.